Company Background

Procam TV is one of the UK's leading broadcast hire companies, supplying equipment and crew for location TV production, particularly within the 'light entertainment' genre. Clients include the major studios (e.g. BBC) and smaller niche broadcasters. The company employs 65 people in London ad Manchester. For TV series such as The Only Way Is Essex or The Great British Bake Off, Procam provides cameras, crew ad other associated equipment (e.g. lenses, lighting, power supplies, booms & jobs). Due to the increasing range of camera formats and e intermittent filming schedules of most TV production companies, producers increasingly tend to hire equipment and crew rather than on and manage their own assets and staff.

Foresight Investment

The four Foresight VCTs invested £1.8 million in a combination of shareholder loans and equity into the business in April 2013 alongside roll over investment from the management team, ne equity investment by the new Non-Executive Chairman and Finance Director and vendor loan notes. This has enabled the management team to buy out the majority shareholder.

Future Strategy

Since investing in April 2013, Foresight has already supported Procam in making its first bolt-on acquisition, Hammerhead TV in September 2013 which gives the combined business a larger geographical footprint across the UK. The management team's focus is providing wider services to television production companies in the UK to enable it to continue to grow organically as well as further bolt-on acquisitions.